+ Follow ELPIDIO GAMBOA JR. Tag
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[ArticleID] => 277105
[Title] => PNOC-EC sale deferred until oil prices stabilize
[Summary] => The government will keep its shares in Philippine National Oil Co. (PNOC)-Exploration Corp. (PNOC-EC) until prices of oil in the global market stabilize, the country’s top energy official said.
"At this time, there is still volatility in oil prices. This is the main reason why the Committee on Privatization raised its concern. It said there would be no problem on privatization provided its concerns are addressed," Energy Secretary Raphael P.M. Lotilla said.
[DatePublished] => 2005-05-11 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 274074
[Title] => Government junks plan to sell 4.9% Malampaya stake
[Summary] => The National Government has junked plans to sell the 4.9-percent stake of state-owned Philippine National Oil Co.-Exploration Corp. (PNOC-EC) in the $4.5-billion Malampaya natural gas development project.
In a disclosure to the Philippine Stock Exchange (PSE), PNOC-EC general counsel Elpidio Gamboa Jr. said the Committee on Privatization, which decides on the privatization schemes for government assets, deemed the price offer made by the Korean consortium led by LG International Corp. "not reflective of the current oil price".
[DatePublished] => 2005-04-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
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[2] => Array
(
[ArticleID] => 271529
[Title] => COP okays sale of government’s 4.9% stake in Malampaya project
[Summary] => The Committee on Privatization (COP) council has approved the sale of the 4.9-percent stake of PNOC-Exploration Corp. (PNOC-EC) in the $4.5-billion Malampaya deep water gas-to-power project to a Korean consortium led by LG International Corp. (LGI).
PNOC-EC, a subsidiary of state-owned Philippine National Oil Co. (PNOC), owns a 10-percent interest in Service Contract (SC) 38 or the Malampaya project. The majority owners and lead operators of the Malampaya project are Shell Philippines Exploration B.V. (Spex) and Chevron Texaco.
[DatePublished] => 2005-03-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
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[3] => Array
(
[ArticleID] => 199006
[Title] => Sale of PNOC-EC to be delayed due to market slump
[Summary] => The privatization of PNOC-Exploration Corp. (PNOC-EC), the oil and gas development arm of the state-run Philippine National Oil Co., will likely be delayed due to poor market condition.
"We are still studying it (public offering), but it’s a matter of timing. We want to maximize the proceeds from the offering,"PNOC president Thelmo Cunanan said.
[DatePublished] => 2003-03-15 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 189606
[Title] => PNOC unit sets public offer
[Summary] => The PNOC-Exploration Corp. (PNOC-EC), the oil and gas development arm of the state-run Philippine National Oil Co., will likely proceed with its planned public offering in the first quarter of 2003.
"Our financial advisor (ING Barings) has suggested that we postpone the initial public offering (IPO) to early next year," PNOC vice president and spokesman for the PNOC-EC privatization Alfredo Parungao said.
[DatePublished] => 2002-12-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 187318
[Title] => PMS says SEC has jurisdiction over PNOC-EC
[Summary] => State-owned PNOC Exploration Corp. has no choice but to submit a Code of Corporate Governance Manual following a ruling issued by the Presidential Management Staff of Malacanang that the PNOC-EC is within the Securities and Exchange Commission’s jurisdiction and should therefore comply with the SEC’s directive.
The SEC directed PNOC-EC last August to come up with its own Corporate Governance manual and file the same with the corporate watchdog agency.
[DatePublished] => 2002-12-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 185489
[Title] => PNOC-EC forms unit to manage Malampaya stake
[Summary] => The PNOC-Exploration Corp. (EC) has formed a new subsidiary – PNOC Malampaya Production Corp. (PNOC-MPC) – to handle the 10-percent stake of EC in the $4.5-billion Malampaya Deep Water Gas to Power project.
In a disclosure to the Philippine Stock Exchange, EC said the assignment of the 10 percent equity to PNOC-MPC was approved by the stockholders of EC last Nov. 22.
[DatePublished] => 2002-11-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
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)
)
ELPIDIO GAMBOA JR.
Array
(
[results] => Array
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[0] => Array
(
[ArticleID] => 277105
[Title] => PNOC-EC sale deferred until oil prices stabilize
[Summary] => The government will keep its shares in Philippine National Oil Co. (PNOC)-Exploration Corp. (PNOC-EC) until prices of oil in the global market stabilize, the country’s top energy official said.
"At this time, there is still volatility in oil prices. This is the main reason why the Committee on Privatization raised its concern. It said there would be no problem on privatization provided its concerns are addressed," Energy Secretary Raphael P.M. Lotilla said.
[DatePublished] => 2005-05-11 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 274074
[Title] => Government junks plan to sell 4.9% Malampaya stake
[Summary] => The National Government has junked plans to sell the 4.9-percent stake of state-owned Philippine National Oil Co.-Exploration Corp. (PNOC-EC) in the $4.5-billion Malampaya natural gas development project.
In a disclosure to the Philippine Stock Exchange (PSE), PNOC-EC general counsel Elpidio Gamboa Jr. said the Committee on Privatization, which decides on the privatization schemes for government assets, deemed the price offer made by the Korean consortium led by LG International Corp. "not reflective of the current oil price".
[DatePublished] => 2005-04-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 271529
[Title] => COP okays sale of government’s 4.9% stake in Malampaya project
[Summary] => The Committee on Privatization (COP) council has approved the sale of the 4.9-percent stake of PNOC-Exploration Corp. (PNOC-EC) in the $4.5-billion Malampaya deep water gas-to-power project to a Korean consortium led by LG International Corp. (LGI).
PNOC-EC, a subsidiary of state-owned Philippine National Oil Co. (PNOC), owns a 10-percent interest in Service Contract (SC) 38 or the Malampaya project. The majority owners and lead operators of the Malampaya project are Shell Philippines Exploration B.V. (Spex) and Chevron Texaco.
[DatePublished] => 2005-03-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 199006
[Title] => Sale of PNOC-EC to be delayed due to market slump
[Summary] => The privatization of PNOC-Exploration Corp. (PNOC-EC), the oil and gas development arm of the state-run Philippine National Oil Co., will likely be delayed due to poor market condition.
"We are still studying it (public offering), but it’s a matter of timing. We want to maximize the proceeds from the offering,"PNOC president Thelmo Cunanan said.
[DatePublished] => 2003-03-15 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 189606
[Title] => PNOC unit sets public offer
[Summary] => The PNOC-Exploration Corp. (PNOC-EC), the oil and gas development arm of the state-run Philippine National Oil Co., will likely proceed with its planned public offering in the first quarter of 2003.
"Our financial advisor (ING Barings) has suggested that we postpone the initial public offering (IPO) to early next year," PNOC vice president and spokesman for the PNOC-EC privatization Alfredo Parungao said.
[DatePublished] => 2002-12-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 187318
[Title] => PMS says SEC has jurisdiction over PNOC-EC
[Summary] => State-owned PNOC Exploration Corp. has no choice but to submit a Code of Corporate Governance Manual following a ruling issued by the Presidential Management Staff of Malacanang that the PNOC-EC is within the Securities and Exchange Commission’s jurisdiction and should therefore comply with the SEC’s directive.
The SEC directed PNOC-EC last August to come up with its own Corporate Governance manual and file the same with the corporate watchdog agency.
[DatePublished] => 2002-12-10 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 185489
[Title] => PNOC-EC forms unit to manage Malampaya stake
[Summary] => The PNOC-Exploration Corp. (EC) has formed a new subsidiary – PNOC Malampaya Production Corp. (PNOC-MPC) – to handle the 10-percent stake of EC in the $4.5-billion Malampaya Deep Water Gas to Power project.
In a disclosure to the Philippine Stock Exchange, EC said the assignment of the 10 percent equity to PNOC-MPC was approved by the stockholders of EC last Nov. 22.
[DatePublished] => 2002-11-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
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